M&T Bank Corp lowered its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 21.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 509 shares of the construction company’s stock after selling 136 shares during the quarter. M&T Bank Corp’s holdings in Cavco Industries were worth $218,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its stake in shares of Cavco Industries by 37.1% during the second quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock valued at $3,274,000 after purchasing an additional 2,558 shares during the last quarter. Quest Partners LLC bought a new position in Cavco Industries in the 2nd quarter valued at $931,000. Fisher Asset Management LLC increased its stake in shares of Cavco Industries by 8.5% in the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock valued at $30,614,000 after buying an additional 5,620 shares during the period. Blue Trust Inc. increased its stake in shares of Cavco Industries by 90.0% in the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock valued at $81,000 after buying an additional 90 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Cavco Industries by 91.8% during the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after acquiring an additional 22,451 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.
Insider Transactions at Cavco Industries
In other news, Director Susan L. Blount sold 750 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the sale, the director now directly owns 2,086 shares of the company’s stock, valued at $1,012,878.16. This trade represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction on Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the transaction, the director now directly owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,100 shares of company stock worth $535,642 in the last three months. Insiders own 1.60% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on CVCO
Cavco Industries Stock Down 2.2 %
Shares of CVCO stock opened at $442.22 on Friday. Cavco Industries, Inc. has a 12-month low of $304.10 and a 12-month high of $544.08. The firm has a fifty day moving average of $467.14 and a 200-day moving average of $415.36. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 25.00 and a beta of 1.29.
Cavco Industries (NASDAQ:CVCO – Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.58. The firm had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same quarter last year, the business posted $4.76 EPS. Research analysts expect that Cavco Industries, Inc. will post 18 earnings per share for the current year.
Cavco Industries Profile
Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.
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